ⓘ Featured image credits: Eduvanz
Mumbai, India-based edtech-focused NBFC, Eduvanz on Thursday announced that it has acquired Klarity, a Mumbai-based edtech startup. The financial of the acquisition deal were undisclosed.
Back in August, Eduvanz raised $5 million from Sequoia Capital and Unitus. By acquiring Klarity, the company will be able to bring a stronghold with various education institutions, and mentors.
Eduvanz was founded by Varun Chopra, Atul Sashittal and Raheel Shah in 2016. The NBFC helps students apply for low-cost loans. It focusses on students seeking vocational degrees and skill development courses at any institute either recognised or partnered with the company.
The company claims that it has worked with over 15,000 students and partnered with over 350 institutes. It has a presence across 20 states and claims to have disbursed over INR 200 crore (around $27 million).
Speaking of the development, Varun Chopra, co-founder & CEO of Eduvanz, in a statement said,
“Klarity has impacted more than 5,000 careers via one-on-one mentoring and the team can help Eduvanz users not only finance their courses but also get help in choosing the right course,”
Founded by Manmeet Singh Akali, Klarity is a one-on-one video-based mentoring platform that connects students with professionals within their area of interest. The company introduced its mentorship programme a couple of years back that focuses on postgraduate students.